NEWARK, N.J. – U.S. Senator Bob Menendez (D-N.J.), a senior member of the Senate Banking Committee, released the following statement in response to Treasury Secretary Steven Mnuchin’s decision this evening to terminate certain Federal Reserve emergency liquidity programs, including the Main Street Lending Program, against the recommendation of Fed Chair Jerome Powell:

“While Senate Democrats have been demanding the Trump Administration send a full-sized rescue boat to keep the economy afloat during this COVID crisis, Treasury opted instead to toss out a thin life line to keep many struggling businesses and local governments from going under.  Now, by cutting that line, the Trump Administration is effectively sitting back to watch our economy drown.  It’s irresponsible, short-sighted, and will only lead to more pain and suffering for the American people.”